Court of International Trade blocks Trump’s tariffs in sweeping ruling

 https://thehill.com/homenews/administration/5322889-court-rules-trump-tariffs/

A federal court ruled Wednesday that an emergency law does not provide President Trump with unilateral authority to impose tariffs on nearly every country, blocking a series of tariff announcements dating back to February that have rattled financial markets.

The three-judge panel on the U.S. Court of International Trade unanimously ruled Congress did not delegate “unbounded” tariff authority to the president in the International Emergency Economic Powers Act of 1977 (IEEPA), the linchpin of Trump’s legal defense. 

Wednesday’s ruling blocks Trump’s April 2 “Liberation Day” tariffs, which placed a 10 percent levy on all imports and higher reciprocal tariffs for dozens of countries. It also blocks earlier orders that imposed tariffs on Canada, Mexico and China. Many had been adjusted as or delayed as stocks fell and Treasury yields rose in the wake of Trump’s trade shifts.

The judges gave the Trump administration 10 days to issue any administrative orders needed to effectuate their ruling.